As expected, at the opening today (23-6-09)Nifty plunged to 4143 and till 12.30 p.m. moved between 4161 and 4203. After 12.30 Nifty surged and at 15.00 it was at 4267. Then came the selling which dragged Nifty to 4227 at 15.30. Today's Nifty close is at 4247 with a gain of 12 points(Technically only due to averaging. If the position at 15.30 is to be taken it is at 4227 with a loss of 8 points). Yesterday and today Nifty's maximum plus points and minus points were almost same, but direction reversed. Nifty's maximum loss points yesterday and today were same at 92 points(-92)and gain points were 38 and 32 respectively.
Low of Nifty futures yesterday and today were 4225 and 4155 where as Nifty spot low on 23rd June 2008 and 24th June 2008 were 4225 and 4156 respectively. What a correlation !!!. Following that pattern Nifty may go down to 4093 tomorrow if today morning's situation prevails tomorrow. Let us see.
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